Petrochemical technology and equipment from Iran to be exported to Venezuela

Vahid Jalalzadeh, the Chairman of Iran’s National Security and Foreign Affairs Parliamentary Committee, recently announced Iran’s plan to export a range of equipment, including technical, engineering, and technological supplies, for petrochemical plants in Venezuela.

This move falls within the ambit of Iranian President Ebrahim Raisi’s ongoing Latin American tour.

Jalalzadeh drew attention to the progress made in exporting engineering and technical services to countries such as Cuba, Nicaragua, and Venezuela.

He mentioned several key projects, including the assembly of tractors, construction of a cement factory, housing initiatives, and the development and maintenance of an oil refinery in Venezuela.

These efforts have contributed significantly to Iran’s foreign exchange earnings.

In a statement, Jalalzadeh said, “The Islamic Republic [of Iran], known for its reliability and power, assisting in the repair of oil refineries and petrochemical plants in Venezuela is mutually beneficial. It marks a significant advancement in energy diplomacy.”

During President Raisi’s Latin American tour, a plan was revealed to establish a regular maritime route between Tehran and Caracas.

This route will enable Iranian companies to transport their goods to Latin American countries such as Venezuela, Cuba, and Brazil.

After visiting Managua in Nicaragua and Caracas in Venezuela, President Raisi’s tour will conclude with a visit to Cuba.

According to the Iranian Foreign Ministry, 26 collaboration agreements across various sectors including

ICT,  energy, insurance, maritime transport, higher education, agriculture, medicine,mining, and culture

were signed between Tehran and Caracas during President Raisi’s visit to Venezuela. Additionally, the Arab news agency, Fars News, reported that Iran plans to acquire shares in three new maritime refineries in Cuba, Nicaragua, and Venezuela.